Aggie Company received its bank statement for the month of January with an ending balance of $1,740.00. Aggie Company determined that check #3 for $155.00 and check #6 for $420.00 were both outstanding. Also, a $6,900.00 deposit for August 30th was in transit as of the end of the month. First Bank also collected a $5,000.00 notes receivable plus $250 of interest revenue. No interest revenue has been accrued on this note and First Bank charged a $35.00 fee for the collections. The bank statement showed a service charge of $40.00. A customer’s check for $48.00 was returned with the bank statement marked “NSF”. The ending balance of the cash account is $2,938.00. Complete a bank/account reconciliation and prepare any necessary journal entries for the reconciliation. Bank Bal. Company Bal. Adjusted Bank Bal Adjusted Company Bal.
Aggie Company received its bank statement for the month of January with an ending balance of $1,740.00. Aggie Company determined that check #3 for $155.00 and check #6 for $420.00 were both outstanding. Also, a $6,900.00 deposit for August 30th was in transit as of the end of the month. First Bank also collected a $5,000.00 notes receivable plus $250 of interest revenue. No interest revenue has been accrued on this note and First Bank charged a $35.00 fee for the collections. The bank statement showed a service charge of $40.00. A customer’s check for $48.00 was returned with the bank statement marked “NSF”. The ending balance of the cash account is $2,938.00.
Complete a bank/account reconciliation and prepare any necessary
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